In the last few years, the trucking industry has seen a massive increase in demand. As we move through the year, more trends that could affect trucking in 2022 are beginning to emerge. Explore some of them and discover what this year has in store for the trucking industry.
Changing Fuel Costs
Every seasoned trucker knows that fuel costs have a significant impact on operating expenses for freight companies. After all, truckers wouldn’t be able to get their shipments to their intended destinations without fuel. The fuel industry almost always experiences a fluctuation in market prices, which are dictated by supply and demand.
It’s no secret that fuel prices have increased significantly in recent months. The trucking industry will see an impact, as operation costs will likely remain on the higher side. But the good news is that this trend is pushing the need for alternative fuels, and the trucking industry can expect to benefit from this in the long term.
Mergers and Bankruptcies
Another trend that could affect trucking in 2022 is the increase in mergers and bankruptcies. While many trucking companies have seen unprecedented progress, this isn’t true for all. In fact, a considerable number of these facilities went out of business due to poor management and operating administration.
Luckily, the companies still flourishing have open positions for drivers and support staff who lost their jobs when these firms went under. Plus, these consolidations have given rise to innovations and industry-wide efficiencies. This trend is also streamlining the incorporation of exciting new technology in areas that will enable more efficient routing and fuel expenses, to name just a couple.
Higher Freight Volumes
The demand for trucking services is unlikely to slow down any time soon. According to industry insiders, it’s more probable that the industry will see a considerable increase in national freight volume. If you’re looking for numbers, the growth is likely to be an impressive 24 percent.
As a result, trucking companies can expect to see collective revenue growth of a whopping 67 percent over the next few months. Companies responsible for executing these shipments will benefit from this trend, which means 2022 could be quite a lucrative year for the freighting industry.
Reliance on Technology
Of course, we can’t discuss changes in the industry without mentioning the ever-growing reliance on technologies. From the elimination of paper logs to new tracking capabilities and a promising future in state-of-the-art cargo securing solutions, the trucking industry benefits from these innovations.
How? With innovations like tracking and routing technology, shipment operations are becoming safer and more streamlined. On top of that, new software and data analytics are making it easier than ever to manage facility logistics. Overall, this leads to increased customer satisfaction and more business for companies implementing these technologies.